February 21, 2018 / 1:03 PM / a year ago

Boeing partners with El Al venture fund Cockpit Innovation

JERUSALEM, Feb 21 (Reuters) - Cockpit Innovation, the venture fund of El Al Israel Airlines, said on Wednesday it had formed a strategic partnership with Boeing Co that will include an investment in Cockpit.

Financial details were not disclosed.

Cockpit and Boeing will seek to develop technologies that could play a role in the future of travel, aviation and aerospace, including Boeing’s products, Cockpit said.

"Cockpit will provide a bridge to the global ecosystem of start-ups in fields that align with our strategic vision for Boeing, furthering our access into these developing sectors of the aerospace industry," Boeing Commercial Airplanes CEO Kevin McAllister said.

Cockpit counts information technology firm Lufthansa Systems, part of the Lufthansa Group, as a partner. It has backed eight startups.

El Al CEO Gonen Usishkin said that through the partnership "we intend to make investments in new sectors in the very near future." (Reporting by Steven Scheer; Editing by Tova Cohen)

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